Discussion:Tax year
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Discussion Forum Index --> Basic Tax Questions --> Tax year
Discussion Forum Index --> Tax Questions --> Tax year
| 29 November 2007 | |
| Hi Everyone,
When a new corporation files an SS-4 and puts the year down; is that an election? I have a new client who formed an LLC & a C corp and picked April as the year end. I think because they formed in May. I don't see a benefit for the April year end and would like them to be December. Since they haven't filed the initial tax return, is there a problem in changing the year end even though the SS-4 listed April? Thank you! | |
| 29 November 2007 | |
| IRS Regs under section 441 state that a fiscal year is elected on the entity's first filed tax return. What's on SS-4 is therefore not relevant. | |
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